Revel Systems, one of the leading iPad Point of Sale (POS) platforms, had secured approximately $100 million Series C funding in November last year. Investors include New York City-based private equity firm Welsh, Carson, Anderson & Stowe (WCAS) and other strategic investors. The round included an initial $65 million investment from WCAS and an additional $25 million equity line available from WCAS.
Revel will use the funding to bolster support and operations to meet fast-growing sales and high demand for its best-in-breed iPad POS platform. Revel recently launched the world's largest iPad POS deployment with installations at 700+ Smoothie King locations, and serves large grocery, retail and restaurant establishments including Dairy Queen, Goodwill, Pizza Patron and many more. Revel has now been formally established as the leader of the new generation POS industry across both SMBs and enterprises.
"We're very excited to welcome WCAS as an investor and Sanjay to our Board of Directors. We couldn't have picked a better partner to launch Revel into the next phase of growth," said Lisa Falzone, Revel co-founder and CEO, in an official press release. "Their deep investment expertise in the B2B services and payments industries, plus their proven track record for fueling company growth, will help us further cement Revel as the industry standard POS solution for both small businesses and enterprise customers. Our industry leadership and strategic position in the commerce space have allowed us to attract a top investor and have helped us achieve what appears to be the highest valuation in our industry."
The most comprehensive iPad POS platform in the industry, the Revel solution gives food service and retail SMBs and franchise operators access to a full suite of enterprise-grade operations and reporting features to help them grow their business. The Revel platform includes complete front-end order entry, cash register and payment processing, plus back-end personnel scheduling, time clock and payroll, inventory management, comprehensive product/menu management, and advanced reporting to measure and optimize business performance. Revel's end-to-end commerce platform is indefinitely scalable, from single location SMBs to enterprises with thousands of locations, and is designed to move commerce data seamlessly through open APIs.